Main Streets across the World 2023

MAIN STREETS ACROSS THE WORLD 2023 | 7

EXECUTIVE SUMMARY 01

New York’s Fifth Avenue retains its top ranking as the world’s most expensive retail destination, despite recording flat rental growth year-over-year (YOY). Milan’s Via Montenapoleone jumped a spot into second, displacing Hong Kong’s Tsim Sha Tsui, which placed third.

New Bond Street in London and the Avenues des Champs-Élysées in Paris retained fourth and fifth positions, respectively.

The biggest mover was Istiklal Street in Istanbul, up from 31 st to 20 th position, as rampant inflation caused rents to more than double over the past year.

Downgradings were relatively limited, the most significant being Biblioteksgatan in Stockholm, which, despite rental levels seeing growth since last year, slipped three places from 24 th to 27 th globally, primarily due to the euro strengthening against the U.S. dollar more so than the Swedish krona.

CUSHMAN & WAKEFIELD